A division bank of C.V. Karthikeyan and N. Sathish Kumar found that the law does not allow registrars to respond to court orders for nullity of sales contracts before registering deeds of sale, deeds of donation, transaction deeds or other transfer of ownership documents executed by the owner. On October 29, 2020, the registrar recorded a high total of 20,307 documents from 575 sub-repertory. The sale of stamp duty and registration fees that day brought in Rs 123.35 crores. October was a good month for the department with a gain of 1,096 kronor. Stamp duty and registration fees remain the same for men, women and common buyers in Tamil Nadu. In early 2020, the coronavirus pandemic and the resulting blockage were broken into. However, as of August 2020, sales have recovered, reflecting the revenue generated by real estate listings in August, which amounted to 793 affr. Sources also indicate that another 17,000 registrations were registered this year in August, compared to the same period in 2019. Stamp duty must be paid on all documents registered in India under the Registration Act. The rate of stamp duty varies from state to state and would depend on the type of transaction carried out such as sale, lease, gift, mortgage, etc.
In this article, we look at stamp duty rates in Tamilnadu. As the author of the judgment, Kumar J.A. indicated that the Registration Act of 1908 allows registrars to refuse the registration of a document in a limited number of circumstances and does not grant them any omnibus authority. In May 2020, TN`s registration service clarified that new and ready-to-use housing and buildings will not have to pay stamp duty and registration fees. This applied only to the first sale of the land and only the undivided share of the land (UDS) would be subject to stamp duty and registration fees, not to the super-built area. “Plotted Developments and land parcels in and around Chennai moved faster, comparatively,” says T Balabhaskar, a local real estate contractor, adding that sales suffered in the whole, owing to restrictions on inter-state travel and rising cases of COVID-19. Local brokers are also convinced that actual sales will increase as on-site demand has increased. Potential home buyers have inquired about price benefits, discounts and custom packages and see a chance to invest despite the pandemic.
The judges added: “In any event, subsequent transmission is still subject to the rights already created. Therefore, it is not possible to say that a subsequent transfer is prohibited only because a sales agreement is registered and cannot be registered without receiving a decree to cancel such an agreement. In order to prevent incidents of land grabbing, the registration of proxy documents and the property purchase agreement would become mandatory from December. You will need the stamp permit, your PAN card, proof of administrative identity of all parties, including witnesses, two photographs in passport format, noc, no tax certificate, sales certificate, POA, Pattadar Passbook, etc. In accordance with the amendments, it became “mandatory” to register documents relating to the power of attorney, the contract of sale, the agreement to deposit deeds of ownership and the construction agreement under Section 5, item (i) of the Indian Stamp Act of 1899. “We do not have the right to refuse the registration of the following document on the grounds that the sale agreement was already registered for the same property.” “It is his view that the main cause of land grabbing and fictitious registration is that the registration of proxy documents, sales contracts and title filing agreements is optional,” he said.